§ 6-707 — Issuance of license; display; renewal

A. On the filing of the application and the payment of the fees and the approval of the bond, or bonds, the deputy director shall investigate the facts, and if the deputy director finds that the financial responsibility and experience of the applicant are such as to command the confidence of the community to warrant belief that the business will be operated fairly and honestly and within the purposes of this article, the deputy director shall issue the applicant a license to do business as a debt management company.

B. The license shall be kept conspicuously posted in the business office of the licensee. The license is not transferable or assignable.

C. Licenses expire on December 31 following the date of the issuance unless sooner surrendered, revoked or suspended but may be renewed by filing an application with the deputy director on or before December 31 each year. The application for renewal shall be in the form prescribed by the deputy director and shall be accompanied by the fee prescribed in section 6-126. A separate application shall be made for each initial license of a principal place of business, agency or branch office.